Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2025

Financial highlights for the limited partner Classes as a whole for the three and six months ended June 30, 2025 and 2024 were as follows.


	Three Months Ended June 30, 2025									Three Months Ended June 30, 2024									Six Months Ended June 30, 2025									Six Months Ended June 30, 2024
	Class A			Class D			Class Z			Class A			Class D			Class Z			Class A			Class D			Class Z			Class A			Class D			Class Z
Per Redeemable Unit Performance (for a unit outstanding throughout the period): *
Net realized and unrealized gains (losses)	$	(31.04)		$	(24.61)		$	(25.87)		$	(64.98)		$	(51.52)		$	(53.87)		$	58.07		$	46.04		$	48.39		$	3.96		$	3.02		$	2.80
Net investment income (loss)		(4.00)			(3.17)			0.84			9.62			7.63			12.31			(8.50)			(6.72)			1.30			4.97			4.07			13.15

Increase (decrease) for the period		(35.04)			(27.78)			(25.03)			(55.36)			(43.89)			(41.56)			49.57			39.32			49.69			8.93			7.09			15.95
Net asset value per Redeemable Unit,beginning of period		2,711.81			2,150.38			2,262.67			2,794.92			2,216.28			2,314.47			2,627.20			2,083.28			2,187.95			2,730.63			2,165.30			2,256.96

Net asset value per Redeemable Unit,end of period	$	2,676.77		$	2,122.60		$	2,237.64		$	2,739.56		$	2,172.39		$	2,272.91		$	2,676.77		$	2,122.60		$	2,237.64		$	2,739.56		$	2,172.39		$	2,272.91


	Three Months Ended June 30, 2025									Three Months Ended June 30, 2024									Six Months Ended June 30, 2025									Six Months Ended June 30, 2024
	Class A			Class D			Class Z			Class A			Class D			Class Z			Class A			Class D			Class Z			Class A			Class D			Class Z
Ratios to Average Limited Partners’ Capital: **
Net investment income (loss) ***		(0.6)	%		(0.6)	%		0.2	%		1.0	%		1.0	%		1.7	%		(0.6)	%		(0.6)	%		0.1	%		0.7	%		0.7	%		1.5	%

Operating expenses		4.4	%		4.3	%		3.6	%		3.9	%		3.9	%		3.2	%		4.5	%		4.4	%		3.7	%		3.8	%		3.8	%		3.1	%
Incentive fees		-	%		-	%		-	%		(0.1)	%		(0.1)	%		(0.1)	%		-	%		-	%		-	%		0.3	%		0.3	%		0.3	%

Total expenses		4.4	%		4.3	%		3.6	%		3.8	%		3.8	%		3.1	%		4.5	%		4.4	%		3.7	%		4.1	%		4.1	%		3.4	%

Total return:
Total return before incentive fees		(1.3)	%		(1.3)	%		(1.1)	%		(2.1)	%		(2.1)	%		(1.9)	%		1.9	%		1.9	%		2.3	%		0.6	%		0.6	%		1.0	%
Incentive fees		-	%		-	%		-	%		0.1	%		0.1	%		0.1	%		-	%		-	%		-	%		(0.3)	%		(0.3)	%		(0.3)	%

Total return after incentive fees		(1.3)	%		(1.3)	%		(1.1)	%		(2.0)	%		(2.0)	%		(1.8)	%		1.9	%		1.9	%		2.3	%		0.3	%		0.3	%		0.7	%

* Net investment income (loss) per Redeemable Unit is calculated by dividing the interest income less total expenses by the average number of Redeemable Units outstanding during the period. The net realized and unrealized gains (losses) per Redeemable Unit is a balancing amount necessary to reconcile the change in net asset value per Redeemable Unit with the other per unit information.

** Annualized (except for incentive fees).

*** Interest income less total expenses.